LMS has announced a new partnership with Loughborough Building Society.
The mutual is now the 40th lender to join LMS Panel Link, a platform that connects mortgage lenders with law firms, which are fully vetted by LMS.
Loughborough Building Society will also utilise LMS’ Charge Registration service. Ensuring lenders receive the required updates, LMS accesses information directly from HM Land Registry (HMLR) automatically, reducing the administrative overhead on law firms. As soon as LMS receives any new data from HMLR, it supplies the lender with an update, ensuring they obtain accurate and real-time information.
Additionally, Loughborough Building Society will utilise LMS Secure Link technology, consisting of lender-approved answers to law firms’ post-offer queries. This knowledge base enables law firms to have a quick, up-to-date response to a query, speeding up the conveyancing process and allowing more time for lenders to focus on complex cases. Secure Link is also a safe method for lenders and law firms to communicate since conversation threads are only visible to the individual who raised the query and the recipient.
Meanwhile, LMS’ Redemption Statement service via Secure Link is designed to make requesting and submitting this important document quick and straightforward, reducing the need for traditional, less secure communication, such as fax and email.
Suzanne O’Connor, chief relationship officer at LMS, said: “As we welcome Loughborough Building Society, our 40th lender, to LMS Panel Link, it gives us reason to recognise and celebrate how our continued efforts to provide innovative and digitalised solutions to ease the conveyancing process are attracting long-established and trusted lenders.
“We look forward to working with Loughborough Building Society, making conveyancing a smoother, faster, and safer journey for their customers by streamlining communication and reducing risks such as fraudulent activity.”
Gary Brebner, chief executive at Loughborough Building Society, added: “At Loughborough Building Society, our priority is our customers, giving each individual a suitable solution to aid them in their conveyancing journey.
“Now, partnered with LMS, we can enhance their journey even more by offering secure, reliable, and streamlined services, helping speed up critical parts of the conveyancing process.”
